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Korea posts current account surplus for 25th straight month in March Updated: 2014-04-29 13:59:21 KST


Korea's central bank said Tuesday that the nation posted a current account surplus of over 7.3 billion U.S. dollars last month.
That's up nearly three billion dollars from February and marks the twenty-fifth straight month of surplus.
Exports of goods rose almost 6 percent from the previous year to around 54 billion dollars, helped by strong shipments in automobiles, semiconductors and telecommunication products.
Imports went up slightly more than 3 percent to 46 billion.
The deficit in the service account, which includes tourism and shipping, also fell, posting a shortfall of 650-million dollars last month, compared with a deficit of around one-and-a-half billion in February.
The nation's current account surplus has been working as a buffer for any potential capital outflow from Korea that might be triggered by the U.S. Federal Reserve's scaling-back of its massive bond-buying stimulus program.
While the Bank of Korea forecast the surplus for 2014 to reach 68 billion dollars earlier this month, the number for the first quarter stood at over 15 billion dollars.
The central bank says the recent current account surplus trend is on track to meet its projection.
Hwang Ji-hye, Arirang News.

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